Press Esc to close
Sunday 30 April 2017
News updated at 9:57 PM IST

HDFC Bank net up 18.3% to Rs 3,990 cr

DH News Service, Mumbai, Apr 21 2017, 22:57 IST
The bank had provisions of Rs 662.5 crore in the same quarter previous fiscal. This included specific loan loss provisions of Rs 490.3 crore, general provisions of Rs 161.1 crore and other provisions of Rs 11.1  crore. DH File Photo

The bank had provisions of Rs 662.5 crore in the same quarter previous fiscal. This included specific loan loss provisions of Rs 490.3 crore, general provisions of Rs 161.1 crore and other provisions of Rs 11.1 crore. DH File Photo

HDFC Bank reported a 18.3% increase in standalone net profit for the quarter ended March 31, 2017, at Rs 3,990.1 crore compared with Rs 3,374 crore in the same quarter previous fiscal.

Provisions and contingencies for the quarter ended March 31, 2017 were Rs 1,261.8 crore. This includes specific loan loss provisions of Rs 977.9 crore, general provisions of Rs 280.3 crore and other provisions of Rs 3.6 crore.

The bank had provisions of Rs 662.5 crore in the same quarter previous fiscal. This included specific loan loss provisions of Rs 490.3 crore, general provisions of Rs 161.1 crore and other provisions of Rs 11.1 crore.

The specific loan loss provisions for the quarter ended March 31, 2017 include provisions on accounts that would have turned non-performing assets (NPAs) during the quarter ended December 31, 2016, but were classified as NPAs during the quarter ended March 31, 2017, in line with the additional 60/90 day dispensation provided by the Reserve Bank of India vide its circulars dated November 21, 2016 and December 28, 2016, the bank said.

Meanwhile, for the second quarter in a row, there was a massive drop in HDFC Bank’s headcount that came down by over 6,000 to 84,325 owing to increased digitalisation in the March quarter and it expects the trend to continue.

Shares of the bank on Friday rose by over 2%, adding Rs 8,918 crore to its market valuation, after the company reported an 18.2% growth in net profit for the March quarter.

The stock gained 2.38% to end at Rs 1,496.75 on the BSE. During the day, it rose by 2.60% to Rs 1,500, its 52-week high level.

Go to Top

Photo Gallery
Laborers carrying bricks at a brick factory on the eve of International labour day on the outskirts.

Laborers carrying bricks at a brick factory on the eve of International labour day on the outskirts.

A laborer carries a sack of grain at a market on the eve of International labour day, in Bikaner...

A laborer carries a sack of grain at a market on the eve of International labour day, in Bikaner...

Roger Federer, of Switzerland, left, and Microsoft founder Bill Gates, right, celebrate...

Roger Federer, of Switzerland, left, and Microsoft founder Bill Gates, right, celebrate...

A decorated home at Bhilar village, India's first 'village of books' where Around 15,000 books...

A decorated home at Bhilar village, India's first 'village of books' where Around 15,000 books...

Bollywood actor Ranveer Singh during a promotional event, in Mumbai on Saturday...

Bollywood actor Ranveer Singh during a promotional event, in Mumbai on Saturday...

An elephant calf gets a shower on a hot summer day at Anna National Zoological Park, in Chennai...

An elephant calf gets a shower on a hot summer day at Anna National Zoological Park, in Chennai...

Indian team celebrates their win over New Zealand in their second match at the 26th Sultan Azlan...

Indian team celebrates their win over New Zealand in their second match at the 26th Sultan Azlan...

An albino peacock displays its feathers on a hot summer day at Anna National Zoological Park...

An albino peacock displays its feathers on a hot summer day at Anna National Zoological Park...

A helicopter carrying the body of famed Swiss climber Ueli Steck arrives at Teaching Hospital...

A helicopter carrying the body of famed Swiss climber Ueli Steck arrives at Teaching Hospital...

A security person keeps tight vigil as the vehicles loaded with official documents moving toward...

A security person keeps tight vigil as the vehicles loaded with official documents moving toward...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.